In June, India's Foreign Investment Promotion Board (FIPB) had approval a total of 6 proposals in the Broadcasting, Information & Technology, Telecom and Media sectors. Going with the trend the Government in accordance with the FIPB has approved six, deferred five and rejected one after the FIPB's meeting held on October 9, 2009. Verizon The Government has deferred Verizon Communications proposal to transfer equity shares from non-resident shareholder to non-resident group in Telecom Sector. According to Business Standard, the FIPB has sought inputs on Verizons operations in Pakistan. Verizon Asia Pacific Holdings Ltd wishes to transfer 1,000 equity shares in Verizon India to Verizon European Holdings Ltd, UK, as part of a group restructuring. More at Business Standard. Sify Sify Technologies' merger with Sify Communications, which has been approved by the High Court of Madras, has been deferred by the FIPB. Sify Technologies Ltd has an ISP license in India, and Sify Communications has an NLD/ILD license. With the merger, a single entity will own both the licenses, and hence will not have to pay any carriage fee for offering calling cards and VoIP services, or even offer VoIP as a significant value-add over its WiMax/Broadband services. Related: -- Sify Communications To Merge With Sify Technologies, Combining ISP With NLD/ILD Licenses -- Impact Of TRAIs Internet Telephony Recommendations; Sify To Benefit Sahara One Sahara One Media and Entertainment Ltd has Ex-post-facto approval for foreign investment by NRIs and FIIs to carry out the activities relating to entertainment media and motion pictures. Travel Channel Travel…
